China’s domestic stainless steel prices have mostly followed a slightly soft trend during the past seven days.
Global nickel prices have decreased during the past week. On March17, the three-month nickel price at the London Metal Exchange (LME) closed at $17,255/mt, while LME nickel inventory on the same date totaled 283, 740mt.
Overall trading activity in the domestic stainless steel market has slackened a little during the past week and is currently considered to be on the weak side, while prices have mostly moved up by small margins, supported by upticks in nickel prices. As for the week ahead, it is believed that stainless steel prices may indicate small fluctuations, while there is some room for demand to improve.
| Spec. - Grade (mm) | Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong |
12,350 |
1,792 |
0 |
0 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong |
7,900 |
1,146 |
-50 |
-7 |
| 304/2B (1.0 x 1,219 x C) | Taigang |
15,200 |
2,206 |
0 |
0 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang |
14,500 |
2,104 |
-50 |
-7 |
| 430/2B (3.0 x 1,219 x C) | Taigang |
7,600 |
1,103 |
-50 |
-7 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang |
6,850 |
994 |
-50 |
-7 |
13 percent VAT is included in the above prices.
$1 = RMB 6.891
